Property News Craig Satchwell Appointment

Aviva Investors

Colliers International, acting on behalf of Aviva Investors, has completed the sale of the Travelodge Hotel, Harewood Row, Marylebone, London, NW1 6SE to the M&G Secured Property Income Fund.

The property comprises 92 en-suite bedrooms and benefits from a lease to Travelodge Hotels Ltd with an unexpired term of 30 years.

The purchase price of £15,350,000 reflected a Net Initial Yield of 5.24%.

Gerald Eve advised M&G Secured Property Income Fund on the purchase.

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